Wiki recognizes reality?
The movie "Gypsy" was on the air today and I wondered when she died. Seemed to me I was hearing about her for most of my teen years. So I looked her up.
I found (Wiki):
(Gypsy Rose) Lee died of lung cancer in Los Angeles in 1970, aged 59. Upon her death, she left an estate valued at US$575,000 (US$4,000,000 in 2021).[27]
Something I frequently do when I see dollar values for two years, is calculate the actual inflation rate for those numbers. My "just for grins" may differ from your "just for grins."
Wiki's been running 3.4-3.5% for awhile, but I don't know their sources.
All of a sudden, in this article, their inflation rate is 3.8765%, call it 3.9% considering the vagaries.
Method's simple:
Since "Accrued Value" (AV) = the ("Starting Value"(SV) ) X ("Inflation Rate" +1) Number of Periods
then in this case, the "Accrued Value" is $4,000,000; the "Starting Value" is $575,00, the Number of Periods is (2021-1970), or 51 years.
4,000,000 = $575,000 X (Inflation Rate +1)51
4,000,000 / 575,000 = (Inflation Rate + 1)51
(Numbers truncated from the full calculator screen)
6.956 = (Inflation Rate +1)51
log 6.956 =51 X log (Inflation Rate +1)
0.824236 = 51 X log (Inflation Rate +1)
0.824236 / 51 = log (Inflation Rate +1)
0.0165 = log (Inflation Rate +1)
log-1(0.0165) = Inflation Rate +1
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"log-1" is the conventional notation for "that number from which the logarithm is derived." Thus "log-1(2)is 100"; log (100)= 2.00000000
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1.038765 = Inflation Rate +1
0.038765 = Inflation Rate
In percentages, Inflation Rate = 3.8765%
All logs base 10 and to be sure, "Inflation Rate" is an "accrual rate" but since we're talking $ then versus $ now, we can call it "inflation rate" for that particular item.
Terry, 230RN
Edited to add a missing term.